McKesson (NYSE:MCK) Trading 0.7% Higher

McKesson Co. (NYSE:MCK - Get Free Report) was up 0.7% during mid-day trading on Thursday . The stock traded as high as $564.22 and last traded at $561.26. Approximately 147,601 shares traded hands during trading, a decline of 79% from the average daily volume of 706,003 shares. The stock had previously closed at $557.38.

Analyst Ratings Changes

Several analysts have recently issued reports on MCK shares. Leerink Partnrs restated an "outperform" rating on shares of McKesson in a research report on Monday, February 26th. Morgan Stanley increased their price objective on shares of McKesson from $522.00 to $548.00 and gave the stock an "overweight" rating in a research report on Monday, April 15th. Argus increased their price objective on shares of McKesson from $510.00 to $570.00 and gave the stock a "buy" rating in a research report on Wednesday, April 10th. UBS Group increased their price objective on shares of McKesson from $620.00 to $630.00 and gave the stock a "buy" rating in a research report on Wednesday, May 8th. Finally, Evercore ISI increased their price objective on shares of McKesson from $590.00 to $600.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 8th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $571.47.

McKesson Price Performance

The company has a market capitalization of $72.54 billion, a PE ratio of 24.93, a price-to-earnings-growth ratio of 1.29 and a beta of 0.45. The company's fifty day moving average is $538.10 and its 200-day moving average is $501.87.

McKesson (NYSE:MCK - Get Free Report) last posted its earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $6.34 by ($0.16). The business had revenue of $76.36 billion for the quarter, compared to analyst estimates of $79.32 billion. McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The company's revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $7.19 earnings per share. Equities research analysts forecast that McKesson Co. will post 31.57 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be given a $0.62 dividend. The ex-dividend date is Monday, June 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.44%. McKesson's dividend payout ratio (DPR) is currently 11.08%.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the company's stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the completion of the transaction, the chief executive officer now owns 43,445 shares in the company, valued at $22,789,074.75. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Brian S. Tyler sold 3,473 shares of the business's stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the completion of the sale, the chief executive officer now owns 43,445 shares of the company's stock, valued at $22,789,074.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan R. Salka sold 606 shares of the business's stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $558.04, for a total transaction of $338,172.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,080 shares of company stock worth $2,160,489. Company insiders own 0.21% of the company's stock.

Institutional Trading of McKesson

Large investors have recently bought and sold shares of the business. LRI Investments LLC purchased a new stake in McKesson during the 1st quarter valued at about $28,000. Register Financial Advisors LLC purchased a new stake in McKesson during the 1st quarter valued at about $29,000. Sachetta LLC purchased a new stake in McKesson during the 4th quarter valued at about $27,000. Newbridge Financial Services Group Inc. grew its stake in McKesson by 333.3% during the 1st quarter. Newbridge Financial Services Group Inc. now owns 65 shares of the company's stock valued at $35,000 after acquiring an additional 50 shares in the last quarter. Finally, Richardson Financial Services Inc. purchased a new stake in McKesson during the 4th quarter valued at about $31,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

About McKesson

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.